Cryo-Cell Internatioanal Inc., one of the world’s largest and most established family cord blood banks and global industry leader in innovative stem cell solutions, today announced it has signed an exclusive agreement with Stem Cells Costa Rica(R) to license Cryo-Cell’s signature U-Cord™ and proprietary CelleSM stem cell services in Costa Rica, effective this summer.
Stem Cells Costa Rica is a privately held company based in of San Jose. The deal extends the Cryo-Cell’s market reach to numerous Latin America markets, and is expected to increase company recognition in the area.
“We are very pleased to welcome Stem Cells Costa Rica to Cryo-Cell’s vast and fast-growing network of global license affiliates,” Mercedes A. Walton, Cryo-Cell chairman and CEO stated in the press release. “With our new partner in Costa Rica, Cryo-Cell’s footprint in Latin America will span sixteen markets. We anticipate that the company’s strong global brand and well-established reputation for superior quality may significantly advance Cryo-Cell’s strategic presence in the region.”
Stem Cells Costa Rica said it expects to use its professional network of medical practitioners, private and public institutions throughout the country to raise consumer awareness of the potential benefits of cryopreserving stem cells derived from umbilical cord blood and menstrual fluid.
“Cryo-Cell is well recognized as a global industry leader in stem cell innovation with superior quality products and services,” Dr. Adriana Sanchez, MD, stated in the press release. “We believe that stem cell technology has demonstrated the proven potential to save lives. Stem Cells Costa Rica is very proud and excited to become Cryo-Cell’s exclusive license partner to introduce highly differentiated and competitively priced services throughout the country of Costa Rica.”
The partnership also provides Cryo-Cell with an upfront license fee, as well as future fees associated with the processing and annual storage of U-Cord and Celle products.
For more information visit www.cryo-cell.com or www.celle.com